Investor assisted by award-winning realtor to purchase a building with a beloved coffee shop
On the corner of Logan and California in the Logan Square community, coffee drinkers will find a beautifully crafted Starbucks. The owner of the building, Barnett Capital, LTD, from which Starbucks leased the space sought to sell the property through the brokerage firm of Interra Realty. This landlord and their realtor had a stroke of luck, because Matanky Realty Group had a solution.
Terri J. Cox represented a buyer for this building who wished to invest in a fully-leased building that generated a significant and predictable income. Moreover, this sale required some finesse with regard to working with financing and other stakeholders. With the original price listed above $7M, Terri went to bat to help her client get the best deal possible. In the end, all parties settled on a contract of $6,225,000 for the purchase of this property, satisfying everyone’s requirements. Terri has received CoStar’s Power Broker of the Year Award for several years for her ability to handle complex deals such as this one.
Matanky Realty Group has had a bit of history with this property. The firm’s affiliate company, MRG Construction, had the opportunity to bring this coffee shop up to date with a stunning interior tenant buildout construction project. This renovation transformed the store to bring it to its latest iteration as a shining beacon of the popular coffee chain’s brand. MRG Construction has partnered with Starbucks on dozens of other built-out and ground-up builds, as a general contractor of choice. Their highly skilled team made quick work of rebuilding this store which has, in part, led to many other past and current projects.
The brokerage team at Matanky Realty Group offers buyer representation as part of a comprehensive suite of commercial real estate brokerage services. We have helped shape communities like Logan Square since 1955. You can learn more about how we assist real estate buyers find and select the perfect location they seek by visiting our web page: https://matanky.com/what-we-do/brokerage/buyer-representation/